Alberta ends 2022-23 with petro-powered $11.6B surplus

Jul 1, 2023

Share
Share
Tweet

Alberta finance minister Nate Horner speaks to the media at a news conference in Calgary on Thursday, June 29, 2023. THE CANADIAN PRESS/Jeff McIntosh

CALGARY — The Alberta government says it ended the 2022-23 budget year with a petro-powered $11.6 billion surplus, up from its third-quarter estimate of $10.4 billion.

It’s a positive report, Finance Minister Nate Horner said in a statement Thursday.

“We promised to keep our economy moving forward and Alberta is reaping the benefits,” he said.

“Albertans can rest easy knowing that Alberta’s prosperity today means more stability tomorrow as we continue to pay down debt and save for the future.”

The province said its strong financial situation allowed it to pay down $13.3 billion in debt.

It also saw the Alberta Heritage Savings Trust Fund grow by $2.5 billion to $21.2 billion.

Revenues came in at $76.1 billion, which is $13.5 billion more than expected, due to non-renewable resource and tax revenues.

The government spent $64.5 billion, which was $2.4 billion more than budgeted, on higher-than-expected health-care costs and affordability measures to help Albertans deal with inflation.

This report by The Canadian Press was first published on June 29, 2023.

The Canadian Press

News from © The Canadian Press, 2023. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • 0079 Ministry of Energy Business_incentive PO
    0079 Ministry of Energy Business_incentive PO
  • 0078 LHOS 2024
    0078 LHOS 2024
  • 0077 Caprice Resources Stand Up For Free Speech
    0077 Caprice Resources Stand Up For Free Speech
  • 0053 Kingston Midstream Westspur Alameda
    0053 Kingston Midstream Westspur Alameda
  • 0076 Latus only
    0076 Latus only
  • 0073 SaskWorks-Pipeline Online
    0073 SaskWorks-Pipeline Online
  • 0063 Turnbull Excavating hiring crusher
    0063 Turnbull Excavating hiring crusher
  • 0061 SIMSA 2024 For Sask Buy Sask
    0061 SIMSA 2024 For Sask Buy Sask
  • 0058 Royal Helium Steveville opens anonymous rocket
    0058 Royal Helium Steveville opens anonymous rocket
  • 0055 Smart Power Be Smart with your Power office
    0055 Smart Power Be Smart with your Power office
  • 0051 JML Hiring Pumpjack assembly
    0051 JML Hiring Pumpjack assembly
  • 0049 Scotsburn Dental soft guitar
    0049 Scotsburn Dental soft guitar
  • 0046 City of Estevan This is Estevan
    0046 City of Estevan This is Estevan
  • 0041 DEEP Since 2018 now we are going to build
    0041 DEEP Since 2018 now we are going to build
  • 0032 IWS Summer hiring rock trailer music
  • 0022 Grimes winter hiring
  • 0021 OSY Rentals S8 Promo
  • 0018 IWS Hiring Royal Summer
  • 0013 Panther Drilling PO ad 03 top drive rigs
  • 0011
  • 0006 JK Junior
  • 0002 gilliss casing services
    0002 gilliss casing services
  • 9002 Pipeline Online 30 sec EBEX
    9002 Pipeline Online 30 sec EBEX
  • 9001